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Citing the nonpartisan economic think-tank Paulson Institute, the American Security Institutereport underscores that "Chinese firms and investors own a controlling majority in nearly 2,400 U.S. Debt to the Penny., U.S. Department of the Treasury. 1 Understanding the actual extent and impact of Americas debt to China requires a closer look at these massive amounts of money. While foreign land ownership has been reported in all 50 states and Puerto Rico, the holdings are concentrated in particular states. As a Premium user you get access to the detailed source references and background information about this statistic. Photo: GUILLAUME SOUVANT/AFP via Getty Images, Critical Questions So, in part, Chinese demand for American property is a sign of their desire to give their children the best opportunities to have a successful future.. On Friday, Starwood Hotels agreed to be acquired by Anbang, a Chinese insurance company that is rapidly buying up U.S. hotels, for over $13 billion . Canada is the biggest foreign owner of U.S. agricultural and timber land, and owns 4.7 million acres in the United States. Of the $30.5 trillion in government debts, more than $6 trillion is owned by the federal government in trust funds. Advocacy groups like the National Family Farm Coalition argue that the larger threat to national security is corporate capture of U.S. land resources, whether those corporations are U.S.- or foreign-owned. Total number of residential properties bought by Chinese buyers in the U.S. 2010-21. The government now provides affordable housing by subsidizing commercial housing purchases or by offering low-rent public (social) housing to middle- and low-income families. China drew some headlines in 2013 and 2014 for buying up a lot of gold to store in its bank vaults, but the real safety net for the yuan is the worldwide belief in the dollar. The other countries that hold the most U.S. debt include the U.K., with $634 billion owed; Switzerland, holding $294.1 billion in debt securities; and the Cayman Islands, slightly behind Switzerland with $293.2 billion of the United States' debt. Furthermore, policymakers have signaled no efforts to improve state- or national-level information on foreign purchases of U.S. farmland, leaving the true picture obscured. U.S . Alibaba handles more business than any other e-commerce company. Powered and implemented by FactSet Digital Solutions. The House passed the agriculture appropriations bill on July 29, raising questions about how it will be enforced if it becomes law. This acquisition put two Chinese directors on Hilton's Board of 10. Data cover both foreign-owned (29.1 million acres) and U.S. US PHARMACEUTICAL INDUSTRY AIMS TO WREST SOME DRUG PRODUCTION BACK FROM CHINA. Six states forbid any foreign landholdings, and some, like Missouri, put caps on how much land can be held by foreign entities. "Chinas Economic Rise: History, Trends, Challenges, and Implications for the United States.". Available: https://www.statista.com/statistics/611020/total-number-of-properties-purchased-by-chinese-buyers-in-the-us/, Total number of residential properties purchased by Chinese buyers in the United States from 2010 to 2022, Available to download in PNG, PDF, XLS format, Cross-border commercial real estate investment in the United States, Origin of foreign residential buyers in the U.S. 2016-2018, Cross-border commercial real estate investments in the U.S. 2018, by country, Number of commercial properties in the U.S. 2018, by investor country, Property purchased by foreign buyers in U.S. 2009-2022, by type of area, Share of commercial space leased by foreign clients U.S. 2018, by size, Share of commercial space leased by foreign clients U.S. 2018, by lease term, Perception of real estate market among foreign investors in U.S. 2016-2018, Perception of U.S. real estate prices among foreign buyers 2018, Reasons why foreign buyers don't buy real estate in the U.S. 2019, Share of Chinese buyers of residential property in the U.S. 2011-2022, Total residential property sales to Chinese buyers in the U.S. 2010-2022, Total number of residential properties bought by Chinese buyers in the U.S. 2010-22, Average purchase price of residential property by Chinese buyers in the U.S. 2010-22, Median purchase price of residential property by Chinese buyers in the U.S. 2010-2022, Share of CRE investments from China/Hong Kong in the U.S. 2011-2017, by investor type, Value of China/Hong Kong CRE investments made in the U.S. 2011-2017, Share of Canadian buyers of residential property in the U.S. 2011-2022, Total residential property sales to Canadian buyers in the U.S. 2010-2022, Average purchase price of residential property by Canadian buyers in the U.S. 2010-22, Median purchase price of residential property by Canadian buyers in the U.S. 2010-22, Share of UK buyers of residential property in the U.S. 2011-2022, Total residential property sales to buyers from the UK in the U.S. 2010-2021, Total number of residential properties purchased by UK buyers in the U.S. 2010-2021, Average purchase price of residential property by UK buyers in the U.S. 2010-2021, Median purchase price of residential property by UK buyers in the U.S. 2010-2021, Total residential property sales to Indian buyers in the U.S. 2010-2022, Average purchase price of residential property by Indian buyers in the U.S. 2010-2022, Median purchase price of residential property by Indian buyers in the U.S. 2010-2022, Share of Mexican buyers of residential property in the U.S. 2011-2022, Total residential property sales to Mexican buyers in the U.S. 2010-2022, Total number of residential properties bought by Mexican buyers in the U.S. 2010-2022, Average purchase price of residential property by Mexican buyers in the U.S. 2010-22, Median purchase price of residential property by Mexican buyers in the U.S. 2010-2022, Average price of residential property in France 2022, by property type, Breakdown of housings in France 2020, by square meter price, Average price of rental flats per square meter in France 2020, Average rent price for apartments in the largest French cities 2022, Value of commercial real estate investment in France 2021-Q1 2022, by type, Origin of major foreign buyers of U.S. residential property in 2022, Share of Brazilian buyers of residential property in the U.S. 2011-2020, Share of German buyers of residential property in the U.S. 2011-2020, Housing purchase transactions volume Jeju, South Korea 2009-2021, Housing transactions volume Busan, South Korea 2009-2021, Housing transactions volume Gyeonggi, South Korea 2009-2021, Housing purchase transactions volume Gyeonggi, South Korea 2009-2021, Housing transactions volume Jeju, South Korea 2009-2021, Realtors' sources of referrals for foreign residential property buyers U.S. 2022, Apartment purchase transactions volume Incheon, South Korea 2009-2021, Find your information in our database containing over 20,000 reports, Chinese buyers were responsible for only six percent of all sales to foreigners, bought the most U.S. residential property, property sales to foreign buyers peaked at 153 U.S. dollars in 2017. By the start of 2020, Chinese owners controlled about 192,000 agricultural acres in the U.S., worth $1.9 billion, including land used for farming, ranching and forestry, according to the Agriculture Department. Manuel Balce Ceneta/AP Photo. July 18, 2022. The remaining 38 percent is held by entities from almost a hundred other countries. Its economy grew more than 10% for the three decades before the 2008 recession. Includes buyers from the People's Republic of China, Hong Kong and Taiwan. Please create an employee account to be able to mark statistics as favorites. A1: USDA records provide the best source of information on foreign-held agricultural land, although they are still incomplete and contain many errors (as explained in A3 below). (Other Hollywood companies are partly or wholly owned by Chinese interests We know that education is one of the most common reasons that Chinese families purchase real estate in the US, he said. SWINE FLU STRAIN WITH 'HUMAN PANDEMIC POTENTIAL' FOUND IN MORE CHINESE PIGS, SCIENTISTS SAY. Sign up to receive The Evening, a daily brief on the news, events, and people shaping the world of international affairs. David Schlessinger and I founded Five Below 16 years ago with a promise to build an amazing store for teens and pre-teens that offers trend-right, high-quality merchandise all at $5 or less, said Tom Vellios . Owning U.S. Treasury notes helps China's economy grow. 4356 (117)) that would block any new agricultural purchases by companies that are wholly or partly controlled by the Chinese government and bar Chinese-owned farms from tapping federal support programs. "China's Currency Policy," Page 1. "Report on Foreign Portfolio Holdings of U.S. The debate over farm ownership comes amid broader efforts by Congress and the Biden administration to curb the nations economic reliance on China, especially in key industries like food, semiconductors and minerals deemed crucial to the supply chain. The deal meant that WH Group now owns the largest pork producer in the United States as well as over 146,000 acres of Missouri farmland. The USDA reports that the changes in pasture and crop land holdings since 2009 were mostly due to foreign-owned wind companies signing or terminating long-term leases. In fact, research firm Gartner revealed last year that a third of supply chain leaders had plans to move at least some of their manufacturing out of China before 2023. WH Groups shareholders include many large U.S.-based financial institutions.". This compensation may impact how and where listings appear. Here's a quick and fascinating breakdown by total. However, the concept of foreign debt carries a negative connotation, especially when it concerns large amounts owed to nations embroiled in controversy. Crops beings harvested on an Iowa farm in 2018, Weak Oversight of Foreign Farmland Deals Sparks Concern Amid China Purchases, North Dakota Turns Against Chinese Corn Mill Project. China holds the number two position, holding $980.8 billion of U.S. Treasurys3.2% of the total U.S. debt. AMC. ", International Monetary Fund. That makes Chinese exports cheaper than American-made goods, increasing sales. Rep. Grace Meng, D-N.Y. speaks during a news conference on Capitol Hill, on May 27, 2020, in Washington. 3 1. This series of events prompted Congress to look at how to prevent Chinese ownership in U.S. agriculture, even though other foreign entities, like Brazilian-owned JBS, control similarly large portions of U.S. food supply chains. Citing staff shortages, the Department of Agriculture didnt penalize foreign parties for violating reporting rules from 2015 to 2018, prompting 28 lawmakers to criticize the departments complete lack of accountability and oversight Monday in a letter obtained by the Wall Street Journal. While Japans 4.8% ownership of the U.S. debt is only slightly less than Chinas 5.3%, the Japanese-owned debt is rarely depicted in a negative light, as is Chinas. This includes the Federal Reserve, which already owns six times as much debt as China. As Chinese investors buy up U.S. Treasury products, they help increase the value of the dollar. Critics claim that the rule change was instrumental in allowing the deal to go through as written, and some members of Congress warned of Chinese government involvement in the purchase. 2023 FOX News Network, LLC. US President Joe Biden, King of Jordan II, for the "historic meeting" between Palestinians and Israelis in Aqaba. But its the trend of increasing purchases and the buyers potential connections to the Chinese government that have lawmakers spooked. ", The World Bank. Chart. Most countries want their currency values to fall so they can win global currency wars. It receives these dollars from Chinese companies that receive them as payments for their exports. "We China is taking steps to make its currency, the yuan, transition to a global currency. As a major function of its monetary policy, China's central bank, the Peoples Bank of China (PBOC), actively works to prevent this imbalance between the U.S. dollar and renminbi in local markets. For example, foreign investors can set up limited liability companies in the U.S. and designate an American owner to circumvent the reporting requirements while still controlling the operation behind the scenes, said Joe Maxwell, president of the progressive advocacy group Family Farm Action. To use individual functions (e.g., mark statistics as favourites, set Defining Alibaba Alibaba is China's and by some measures, the world's biggest online commerce company. Her modest, two-story white farmhouse has . Additionally, China is seeking to build 5G networks in the United States and other Western countries, which could potentially feed personal information and sensitive data to the Chinese Communist Party. Since 2016, a company owned by Xinjiang-based real estate tycoon Sun Guangxin had spent an estimated $110 million buying up land in Texas' Val Verde County. This also reduces the purchasing power of Chinese earners. It buys available excess U.S. dollars from the exporters and gives them the required renminbi. What is the highest credit limit for Chase Sapphire? Agricultural Land. A dollar-pegged yuan helps keep down the cost of Chinese exports, which the Chinese government believes makes it stronger in international markets. Foreign-owned land accounts for about 2.7% of all U.S. farmland and forest land, which, according to the Department of Agriculture, is about 897 million acres. The debt ceiling is a limit that Congress imposes on the amount that the federal government can owe. Second, the Chinese rely on American markets to buy Chinese-produced goods. Walmart is founded and owned by the Walton family. Since this strategy is dependent on exportsover $ 452.58 billion of which went to the U.S. in 2020China needs ever-more renminbi to continue to have a lower currency exchange rate than the U.S. dollar, and thus offer cheaper prices for the products it exports. Quotes displayed in real-time or delayed by at least 15 minutes. Each bill, bond, and note represents ownership in U.S. debt. Amanda Jackson has expertise in personal finance, investing, and social services. While around 3.2% of the national debt isn't exactly insignificant, the Treasury Department has had no problems finding buyers for its products even after a rating downgrade. Smithfield is vertically integrated and owns all aspects of its supply chain, meaning that WH Group now controls a significant portion of U.S. pork production and revenue in addition to farmland. For example, the huge amount of debt that the U.S. government owes Chinese lenders has been the subject of countless debates, headline news stories, and political platforms for decades. The USDA claims that its goal is to monitor foreign ownership of land, not to exact penalties. Many large corporations, pension funds, and wealthy individuals are investing in agricultural land in the United States and abroad. Its a massive undertaking to verify who really owns [the land], Maxwell said. U.S. Debt to China: How Much Is It, and Why? | If the Chinese suddenly decided to call in all of the federal government's obligations (which isn't possible, given the maturities of debt securities), others would likely step in to service the market. Times Square billboard endeavors to warn of creeping Chinese influence. 1616 Rhode Island Avenue, NW "A recently passed law in China requires companies toshare data with Chinese communist spy agenciesif requested. China holds more than $1 trillion of the U.S. national debt. Indeed, there has been a tenfold expansion of Chinese ownership of farmland in the United States in less than a decade. "Federal Debt Held by Federal Reserve Banks. The company was founded in Smithfield, Virginia, in 1936 and was acquired by Hong Kong-based WH Group in 2013. 24 with 420,000 acres, which forms the site of his suborbital spaceflight company, Blue Origin. In, National Association of Realtors. Facebook: quarterly number of MAU (monthly active users) worldwide 2008-2022, Quarterly smartphone market share worldwide by vendor 2009-2022, Number of apps available in leading app stores Q3 2022, Profit from additional features with an Employee Account. "Debt to the Penny. ", United States Department of Treasury. According to the data, the value of foreign-owned American assets climbed to $32.5 trillion in the second quarter, while total foreign assets held by. At the same time, it relies on the private commercial housing market to meet the needs of higher-income groups. The extent of Chinese investment in recent years has also raised red flags around U.S. national security, particularly in the realm of rare earth minerals. How much of the U.S. land does China own? Ever since the establishment of theBretton Woods Systemin 1944, the value of Chinas currency, the yuan, has been connected or pegged to the value of the U.S. dollar. Register in seconds and access exclusive features. In 2019, it grew at 6.1%, an even more sustainable rate. Coronavirus-related sales slumps and supply chain disruption, as well as rising production costs, have also hastened the exodus. As a result, the public does not have a complete picture of which foreign entities own how much U.S. farmland or what the land is being used for. Its three main sites Taobao, Tmall and Alibaba.com have hundreds of millions of users, and host millions of merchants and businesses. Mutual Fund and ETF data provided by Refinitiv Lipper. While foreign land ownership has been reported in all 50 states and Puerto Rico, the holdings are concentrated in particular states. U.S. Department of the Treasury. This includes everyone from retirees who purchase individual U.S. Treasurys to the Chinese government. "In 2017, the United States produced zero rare earth minerals. The reality is very different than the rhetoric. ", National Association of Realtors, Total number of residential properties purchased by Chinese buyers in the United States from 2010 to 2022 Statista, https://www.statista.com/statistics/611020/total-number-of-properties-purchased-by-chinese-buyers-in-the-us/ (last visited March 04, 2023), Total number of residential properties purchased by Chinese buyers in the United States from 2010 to 2022 [Graph], National Association of Realtors, July 18, 2022. The USDA could enforce the portion of the bill that bans Chinese-owned companies from participating in federal benefits programs, but constitutionally, land purchasing falls under states rights, and legislators have made no motions to change that. Is Americas Debt to China Really So Bad? A paid subscription is required for full access. | Photo by Nathan Howard/Getty Images. When you visit the site, Dotdash Meredith and its partners may store or retrieve information on your browser, mostly in the form of cookies. Artificially suppressing the yuan has made it difficult for a growing Chinese middle class; so, exports are needed to keep businesses running. Land grabbingwhen a government, company, or other entity purchases large swathes of land in another countrycan affect local land rights and agricultural production, sometimes putting local food security at risk. "Bretton Woods-GATT, 19411947.". Most states, like Texas and Maine, have no restrictions on foreign ownership of land, contributing to the large amount of farmland that is under foreign control in these states. Representative Grace Meng expressed concern that the amendment could fuel already rising anti-Asian hate, and the USDA and advocacy groups have pointed out that the USDA does not have the authority to intervene in private land deals.